There is no question that today cloud investment is indispensable- with endless benefits from costs savings, added flexibility, and organizational agility. For the cloud vests financial entities with a powerful foundation to reach their desired outcomes. Below we will dig deeper into 3 of the most popular cloud offerings: Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS); to understand their unique applications, functionalities, and advantages.

Some of the Most Popular Cloud Offerings

Choosing the right cloud solution is not only crucial for the migration of its services and uploading of its applications, but it will transform an organization’s entire digital ecosystem through greater flexibility, simplicity, and security.

• Software-as-a-Service (SaaS): This was one of the first cloud offering. SaaS utilizes the web to deliver an application, primarily through third-parties, to users. SaaS is utilized directly on a web browser and does not typically require downloading or installation. SaaS is also very user-friendly and accessible, for it transfers all maintenance, updates, and backups to the service provider. However, with its user-friendliness comes a loss of control and security over the data stored in these applications. Some examples include: email services and content management systems.
• Platform-as-a-Service (PaaS): this offering is perfect for companies that are not technology companies, but wish to offer their services in the cloud. PaaS provides entities with a customized platform, maintained by the cloud provider, while still enabling users to create and distribute their own functionalities.  This is one of the most popular cloud solutions for financial businesses.
• Infrastructure-as-a-Service (IaaS): this solution is one of the most technical cloud offerings. Therefore, it is a great option for organizations that want access to the programming and servers of their cloud structure. This shields the entity with more security and control over their information, but also requires the organization to support and care for its cloud infrastructure.

 The list above is not exhaustive, for the market continues to evolve and to innovate new cloud infrastructure every day, with captivating new offerings and advances such as: serverless; multi-cloud; containers; Security-as-a-Service; AI-as-a-Service; Blockchain-as-a-Service; Distributed, Edge, and Quantum Computing; and much more. We will talk about these cloud breakthroughs in our future blogs.

What's the Take-Away?

Cloud technology is one of the most revolutionary feats of our time, it has transformed every industry through the exponential optimization of antiquated work methods and systems. Therefore, any organization that wants to see long-term success must take the time to discern their digital journey and choose the right cloud offering, accounting for their unique (and evolving) technological capacity and desired use.

 Cobiscorp is a digital transformation expert that can guide you through the discernment of tough technology decisions. Our specialty is to partner with financial businesses to make their business outcomes achievable. Our goal is to empower you with the tools for success, and ultimately to arm you and your customers with financial agility to navigate the uncertainties of the future. Visit our website or contact us directly to learn more about our transformative offerings.